Glaukos (GKOS) Financials

$135.68 +2.26 (+1.70%)

Closing price 05/6/2026 03:59 PM Eastern

Extended Trading

$135.38 -0.31 (-0.23%)

As of 04:21 AM Eastern

Annual Income Statements for Glaukos

This table shows Glaukos' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-37	4.52	-0.09	-13	15	-120	-50	-99	-135	-146	-188
Consolidated Net Income / (Loss)	-38	4.52	-0.09	-13	15	-120	-50	-99	-135	-146	-188
Net Income / (Loss) Continuing Operations	-38	4.52	-0.09	-13	15	-120	-50	-99	-135	-146	-188
Total Pre-Tax Income	-38	4.57	0.00	-12	-50	-132	-49	-98	-134	-146	-193
Total Operating Income	-10	4.24	-2.28	-13	-50	-124	-33	-82	-129	-122	-200
Total Gross Profit	59	98	138	156	198	133	227	214	239	289	283
Total Revenue	72	114	159	181	237	225	294	283	315	383	507
Operating Revenue	72	114	159	181	237	225	294	283	315	383	507
Total Cost of Revenue	13	16	21	25	39	92	67	69	76	94	225
Operating Cost of Revenue	13	16	21	25	39	92	67	69	76	94	112
Other Cost of Revenue	-	-	-	-	-	-	-	-	0.00	0.00	113
Total Operating Expenses	69	94	140	169	249	257	260	296	368	412	482
Selling, General & Admin Expense	44	65	96	-	177	171	179	193	224	261	332
Research & Development Expense	25	29	44	50	72	85	111	133	144	151	151
Total Other Income / (Expense), net	-28	0.32	2.28	0.63	0.51	-8.76	-16	-16	-5.03	-23	6.56
Interest Expense	1.26	-	-0.91	1.62	2.91	11	18	18	14	28	4.64
Interest & Investment Income	-26	0.89	1.38	2.25	3.17	2.38	1.29	2.38	9.16	11	11
Other Income / (Expense), net	-1.13	-0.57	-	-	0.26	-	-	-	-0.56	-6.29	0.48
Income Tax Expense	0.03	0.04	0.09	0.58	-65	-12	0.33	0.77	0.93	0.77	-5.35
Basic Earnings per Share	($2.13)	$0.14	$0.00	($0.37)	$0.41	($2.70)	($1.07)	($2.09)	($2.78)	($2.77)	($3.28)
Weighted Average Basic Shares Outstanding	17.47M	32.93M	34.38M	35.32M	37.36M	44.50M	46.42M	47.44M	48.43M	52.76M	57.19M
Diluted Earnings per Share	($2.13)	$0.12	$0.00	($0.37)	$0.37	($2.70)	($1.07)	($2.09)	($2.78)	($2.77)	($3.28)
Weighted Average Diluted Shares Outstanding	17.47M	36.46M	34.38M	35.32M	41.15M	44.50M	46.42M	47.44M	48.43M	52.76M	57.19M
Weighted Average Basic & Diluted Shares Outstanding	17.50M	32.30M	34.74M	35M	43.74M	45.79M	47.05M	47.88M	49.47M	56.57M	58.08M

This table shows Glaukos' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-30	-37	-41	-51	-21	-34	-18	-20	-16	-134	-20
Consolidated Net Income / (Loss)	-30	-37	-41	-51	-21	-34	-18	-20	-16	-134	-20
Net Income / (Loss) Continuing Operations	-30	-37	-41	-51	-21	-34	-18	-20	-16	-134	-20
Total Pre-Tax Income	-30	-37	-40	-50	-21	-34	-18	-19	-16	-140	-19
Total Operating Income	-28	-39	-39	-30	-25	-29	-21	-23	-16	-140	-20
Total Gross Profit	60	63	65	73	74	77	82	97	105	-1.52	117
Total Revenue	78	82	86	96	97	105	107	124	134	143	151
Operating Revenue	78	82	86	96	97	105	107	124	134	143	151
Total Cost of Revenue	19	19	20	23	23	29	24	27	29	145	33
Operating Cost of Revenue	19	19	20	23	23	29	24	27	29	32	33
Total Operating Expenses	88	102	104	103	99	106	103	120	121	138	137
Selling, General & Admin Expense	54	63	62	66	64	69	71	83	83	95	93
Research & Development Expense	33	39	42	37	35	37	32	37	38	44	44
Total Other Income / (Expense), net	-2.40	1.90	-1.40	-20	3.43	-5.03	2.86	3.28	0.37	0.05	0.56
Interest Expense	3.40	3.99	3.45	21	1.66	7.86	1.16	1.15	1.18	1.15	1.13
Interest & Investment Income	2.71	2.38	3.08	2.83	2.70	2.49	3.08	2.57	2.55	2.51	2.43
Other Income / (Expense), net	-1.71	-	-1.03	-1.70	2.39	-	0.95	1.86	-1.01	-1.31	-0.75
Income Tax Expense	0.04	0.06	0.38	0.33	0.18	-0.11	0.33	0.25	0.23	-6.16	0.48
Basic Earnings per Share	($0.63)	($0.75)	($0.82)	($1.00)	($0.39)	($0.56)	($0.32)	($0.34)	($0.28)	($2.34)	($0.34)
Weighted Average Basic Shares Outstanding	48.68M	48.43M	49.58M	50.72M	55.04M	52.76M	56.64M	57.21M	57.40M	57.19M	58.02M
Diluted Earnings per Share	($0.63)	($0.75)	($0.82)	($1.00)	($0.39)	($0.56)	($0.32)	($0.34)	($0.28)	($2.34)	($0.34)
Weighted Average Diluted Shares Outstanding	48.68M	48.43M	49.58M	50.72M	55.04M	52.76M	56.64M	57.21M	57.40M	57.19M	58.02M
Weighted Average Basic & Diluted Shares Outstanding	48.80M	49.47M	50.37M	54.95M	55.14M	56.57M	57.14M	57.35M	57.43M	58.08M	58.73M

This table details how cash moves in and out of Glaukos' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	19	-15	18	14	33	34	3.96	16	-27	75	-80
Net Cash From Operating Activities	-2.19	12	26	19	-0.37	-23	25	-33	-58	-61	-15
Net Cash From Continuing Operating Activities	-2.19	12	26	19	-0.37	-23	25	-33	-58	-61	-15
Net Income / (Loss) Continuing Operations	-38	4.52	-0.09	-13	15	-120	-50	-99	-135	-146	-188
Consolidated Net Income / (Loss)	-38	4.52	-0.09	-13	15	-120	-50	-99	-135	-146	-188
Depreciation Expense	4.27	4.72	5.48	6.26	6.31	4.47	4.75	6.66	8.74	11	11
Amortization Expense	0.07	0.21	0.02	-0.30	3.22	61	32	31	29	26	28
Non-Cash Adjustments To Reconcile Net Income	35	9.15	17	28	49	47	35	42	50	89	188
Changes in Operating Assets and Liabilities, net	-3.38	-6.30	4.03	-1.66	-75	-15	2.55	-14	-11	-40	-55
Net Cash From Investing Activities	-86	-26	-12	-26	43	-205	-58	45	14	48	-78
Net Cash From Continuing Investing Activities	-86	-26	-12	-26	43	-205	-58	45	14	48	-78
Purchase of Property, Plant & Equipment	-0.88	-6.28	-6.31	-10	-4.72	-6.94	-48	-30	-20	-6.30	-24
Acquisitions	-	-	-	-	-	-	-	-	0.00	0.00	-12
Purchase of Investments	-70	-75	-94	-94	-80	-301	-215	-59	-266	-190	-232
Sale of Property, Plant & Equipment	-	-	-	-	0.00	0.00	0.00	0.15	0.00	0.04	0.00
Sale and/or Maturity of Investments	-	55	89	79	80	105	207	135	303	247	197
Other Investing Activities, net	-15	-	-0.66	-1.24	-1.61	-1.82	-2.08	-1.01	-3.17	-3.15	-5.55
Net Cash From Financing Activities	107	-1.64	4.67	22	-9.65	263	39	6.25	15	92	12
Net Cash From Continuing Financing Activities	107	-1.64	4.67	22	-9.65	263	39	6.25	15	92	12
Repayment of Debt	-18	-9.70	-	0.00	-22	-9.61	0.00	0.00	0.00	-0.71	0.00
Issuance of Debt	8.60	-	-	0.00	0.00	288	-	0.00	0.00	53	0.00
Issuance of Common Equity	115	1.95	0.97	3.51	3.39	4.03	4.82	5.63	6.28	7.42	7.69
Other Financing Activities, net	2.16	6.11	3.70	18	9.46	-19	34	0.62	8.76	32	4.20
Other Net Changes in Cash	-	-	-	-	-	-	-	-	-	-	0.80
Cash Interest Paid	0.83	0.29	-	0.00	0.00	5.38	12	12	12	9.21	4.21
Cash Income Taxes Paid	0.03	0.51	0.01	0.40	0.17	0.48	0.27	0.52	1.56	1.36	0.95

This table details how cash moves in and out of Glaukos' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	14	-15	-51	24	32	69	-55	-14	-2.57	-7.43	13
Net Cash From Operating Activities	-8.17	-11	-34	-18	-9.59	0.51	-19	6.98	-10	6.84	-13
Net Cash From Continuing Operating Activities	-8.17	-11	-34	-18	-9.59	0.51	-19	6.98	-10	6.84	-13
Net Income / (Loss) Continuing Operations	-30	-37	-41	-51	-21	-34	-18	-20	-16	-134	-20
Consolidated Net Income / (Loss)	-30	-37	-41	-51	-21	-34	-18	-20	-16	-134	-20
Depreciation Expense	2.23	2.29	2.69	2.75	2.74	2.77	2.65	2.73	2.78	2.81	2.91
Amortization Expense	5.87	5.93	5.46	5.38	5.36	13	5.51	3.72	9.05	10	9.79
Non-Cash Adjustments To Reconcile Net Income	13	13	21	32	14	16	15	27	9.97	136	18
Changes in Operating Assets and Liabilities, net	1.00	4.95	-23	-8.23	-11	1.68	-23	-7.05	-16	-8.61	-24
Net Cash From Investing Activities	15	-13	-29	35	31	12	-37	-21	-3.99	-16	11
Net Cash From Continuing Investing Activities	15	-13	-29	35	31	12	-37	-21	-3.99	-16	11
Purchase of Property, Plant & Equipment	-3.36	-4.21	-0.97	-2.15	-1.45	-1.73	-1.94	-18	-1.64	-2.91	-3.96
Purchase of Investments	-23	-72	-49	-42	-32	-67	-75	-42	-75	-40	-31
Sale and/or Maturity of Investments	42	64	22	80	65	80	41	54	75	28	47
Other Investing Activities, net	-0.10	-1.02	-1.05	-1.04	-1.15	0.08	-1.15	-2.07	-1.54	-0.80	-0.76
Net Cash From Financing Activities	7.47	7.30	13	8.59	9.67	60	1.95	2.25	5.26	2.43	16
Net Cash From Continuing Financing Activities	7.47	7.30	13	8.59	9.67	60	1.95	2.25	5.26	2.43	16
Issuance of Common Equity	4.12	-	2.69	-	4.73	-	2.96	-	4.73	-	2.38
Other Financing Activities, net	3.35	7.30	10	8.59	4.94	7.60	-1.01	2.25	0.54	2.43	13
Other Net Changes in Cash	-	-	-	-	-	-	-	-	-	-	-0.31
Cash Interest Paid	1.08	5.06	1.07	5.20	1.08	1.86	1.06	1.06	1.05	1.05	1.04
Cash Income Taxes Paid	0.44	0.34	0.35	0.45	0.36	0.20	0.28	0.24	0.17	0.27	0.38

This table presents Glaukos' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	117	134	166	207	818	1,006	1,050	1,002	940	975	893
Total Current Assets	104	120	149	177	263	469	486	444	395	450	475
Cash & Equivalents	22	6.49	25	30	62	97	101	120	93	170	91
Short-Term Investments	70	89	95	111	112	308	313	233	202	149	188
Accounts Receivable	7.55	14	17	19	38	36	33	36	40	61	109
Inventories, net	4.10	6.84	11	13	43	16	23	38	42	58	64
Prepaid Expenses	1.29	3.03	2.57	4.12	7.90	13	16	17	18	12	24
Plant, Property, & Equipment, net	2.15	7.59	12	19	22	24	69	94	103	98	113
Total Noncurrent Assets	10	6.76	4.58	11	533	512	495	464	442	427	305
Noncurrent Note & Lease Receivables	-	-	-	-	54	51	49	47	44	42	39
Goodwill	-	-	-	-	66	66	66	66	66	66	67
Intangible Assets	10	6.57	3.15	-	383	358	333	308	283	263	142
Other Noncurrent Operating Assets	0.15	0.19	1.20	2.26	21	27	37	36	43	51	53
Other Noncurrent Nonoperating Assets	-	-	-	8.78	9.33	9.57	9.42	7.08	5.86	4.73	3.83
Total Liabilities & Shareholders' Equity	117	134	166	207	818	1,006	1,050	1,002	940	975	893
Total Liabilities	21	17	28	33	145	338	463	472	479	208	237
Total Current Liabilities	20	17	27	30	58	50	63	72	74	75	101
Accounts Payable	3.63	2.97	6.24	6.29	5.78	4.37	7.33	14	13	13	25
Accrued Expenses	7.79	14	20	24	52	45	56	58	61	62	77
Total Noncurrent Liabilities	1.11	0.16	0.85	2.75	87	288	399	400	405	133	136
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	9.63	11	7.32	7.26	7.14	6.93	0.44
Other Noncurrent Operating Liabilities	0.34	0.16	0.85	2.75	78	88	112	111	115	126	136
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	95	117	138	174	673	667	587	530	462	767	656
Total Preferred & Common Equity	95	117	138	174	673	667	587	530	462	767	656
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	95	117	138	174	673	667	587	530	462	767	656
Common Stock	292	309	331	378	862	977	952	998	1,060	1,510	1,586
Retained Earnings	-197	-192	-192	-205	-190	-310	-365	-464	-599	-745	-933
Treasury Stock	-0.13	-0.13	-0.13	-0.13	-0.13	-0.13	-	-0.13	-0.13	-	-0.13
Accumulated Other Comprehensive Income / (Loss)	0.05	0.65	-0.59	0.74	1.33	1.00	0.02	-2.98	1.17	2.62	3.30

This table presents Glaukos' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	1,008	973	957	949	933	920	927	966	987	999	893
Total Current Assets	449	416	401	400	389	384	397	445	436	455	486
Cash & Equivalents	104	76	95	109	42	68	100	114	101	98	104
Short-Term Investments	258	241	209	192	230	194	162	184	174	175	172
Accounts Receivable	35	38	39	39	47	51	56	72	83	99	120
Inventories, net	34	40	39	40	50	56	60	59	65	64	62
Prepaid Expenses	18	20	19	20	19	14	19	15	14	19	27
Plant, Property, & Equipment, net	87	98	103	103	102	100	99	97	112	111	112
Total Noncurrent Assets	463	458	453	446	443	436	431	425	439	434	295
Noncurrent Note & Lease Receivables	47	46	45	45	44	43	42	41	41	40	39
Goodwill	66	66	66	66	66	66	66	66	67	67	67
Intangible Assets	314	302	295	289	282	276	269	258	270	264	133
Other Noncurrent Operating Assets	26	38	40	40	45	46	48	55	57	59	53
Other Noncurrent Nonoperating Assets	9.08	7.08	5.86	5.86	5.86	4.73	4.73	4.73	3.83	3.83	3.83
Total Liabilities & Shareholders' Equity	1,008	973	957	949	933	920	927	966	987	999	893
Total Liabilities	460	464	468	471	483	255	258	202	222	230	222
Total Current Liabilities	61	62	64	67	72	70	72	69	79	88	89
Accounts Payable	11	12	8.56	10	13	12	11	16	14	20	19
Accrued Expenses	49	50	55	57	59	59	61	53	65	68	70
Total Noncurrent Liabilities	399	402	404	404	410	184	186	134	143	142	133
Noncurrent Deferred & Payable Income Tax Liabilities	7.30	7.26	7.26	7.25	7.14	7.14	7.14	6.92	6.91	6.92	0.44
Other Noncurrent Operating Liabilities	111	113	115	114	120	121	122	127	136	135	133
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	549	509	489	478	451	665	669	764	765	770	671
Total Preferred & Common Equity	549	509	489	478	451	665	669	764	765	770	671
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	549	509	489	478	451	665	669	764	765	770	671
Common Stock	985	1,009	1,021	1,039	1,089	1,354	1,378	1,525	1,546	1,566	1,621
Retained Earnings	-433	-499	-532	-562	-640	-690	-712	-764	-783	-799	-953
Treasury Stock	-0.13	-0.13	-0.13	-0.13	-0.13	-0.13	-0.13	-0.13	-0.13	-	-0.13
Accumulated Other Comprehensive Income / (Loss)	-3.82	-1.33	-0.39	0.76	1.44	2.19	2.62	2.61	2.87	3.06	2.64

This table displays calculated financial ratios and metrics derived from Glaukos' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	57.28%	59.55%	39.21%	13.83%	30.73%	-5.07%	30.70%	-3.79%	11.26%	21.85%	32.33%
EBITDA Growth	20.59%	221.32%	-62.58%	-318.35%	-476.01%	-42.68%	106.83%	-1,239.09%	-111.93%	14.30%	-73.54%
EBIT Growth	13.20%	132.17%	-162.05%	-470.01%	-284.83%	-146.93%	73.39%	-150.40%	-56.35%	4.92%	-54.77%
NOPAT Growth	21.83%	158.29%	4,895.23%	-104.34%	-286.80%	-145.67%	73.39%	-150.40%	-56.35%	4.92%	-63.12%
Net Income Growth	-172.61%	111.80%	-102.03%	-13,977.17%	219.10%	-880.26%	58.79%	-100.02%	-35.75%	-8.70%	-28.23%
EPS Growth	59.74%	105.63%	-100.00%	0.00%	200.00%	-829.73%	60.37%	-95.33%	-33.01%	0.36%	-18.41%
Operating Cash Flow Growth	69.21%	662.57%	111.97%	-27.70%	-101.96%	-6,129.81%	207.48%	-233.90%	-74.59%	-6.16%	75.88%
Free Cash Flow Firm Growth	67.24%	52.24%	6,077.99%	-106.84%	-3,349.74%	92.12%	39.71%	-175.51%	-24.67%	-4.87%	18.31%
Invested Capital Growth	1.65%	56.63%	-10.47%	28.19%	1,891.96%	-9.60%	0.18%	1.79%	-1.86%	0.01%	-15.73%
Revenue Q/Q Growth	0.00%	12.71%	5.62%	7.36%	5.23%	3.39%	0.00%	-0.71%	3.67%	6.42%	8.01%
EBITDA Q/Q Growth	0.00%	32.37%	8.56%	12.12%	-216.34%	46.40%	-89.48%	-40.25%	-11.32%	14.33%	-226.59%
EBIT Q/Q Growth	0.00%	107.92%	2.73%	9.50%	-167.60%	12.90%	-24.54%	-23.88%	-3.95%	7.52%	-125.26%
NOPAT Q/Q Growth	0.00%	137.62%	12,884.16%	9.50%	-168.97%	12.90%	-24.54%	-23.88%	-3.95%	7.52%	-125.80%
Net Income Q/Q Growth	0.00%	115.54%	90.46%	5.63%	179.60%	-64.59%	-29.25%	-10.70%	-4.11%	2.14%	-114.22%
EPS Q/Q Growth	0.00%	-98.73%	100.00%	2.63%	169.81%	-75.32%	-30.49%	-10.58%	-3.35%	6.42%	-118.67%
Operating Cash Flow Q/Q Growth	-43.57%	76.73%	54.32%	32.86%	-101.76%	39.16%	-38.17%	1.53%	-12.74%	15.41%	29.99%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	4,048.54%	-17.57%	-3,062.04%	92.43%	-129.86%	-22.92%	10.10%	11.95%	26.94%
Invested Capital Q/Q Growth	0.00%	9.58%	-17.61%	-3.82%	1,630.34%	-1.68%	0.31%	0.55%	-2.23%	-3.23%	-24.07%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	81.89%	85.86%	86.78%	86.17%	83.72%	59.23%	77.34%	75.61%	75.99%	75.48%	55.72%
EBITDA Margin	-9.90%	7.52%	2.02%	-3.88%	-17.09%	-25.69%	1.34%	-15.91%	-30.30%	-21.31%	-31.48%
Operating Margin	-14.36%	3.71%	-1.43%	-7.17%	-21.22%	-54.92%	-11.18%	-29.10%	-40.89%	-31.91%	-39.33%
EBIT Margin	-15.94%	3.21%	-1.43%	-7.17%	-21.11%	-54.92%	-11.18%	-29.10%	-40.89%	-31.91%	-39.24%
Profit (Net Income) Margin	-53.45%	3.95%	-0.06%	-7.14%	6.51%	-53.50%	-16.87%	-35.07%	-42.79%	-38.17%	-36.99%
Tax Burden Percent	100.09%	99.06%	-9,200.00%	104.71%	-30.83%	90.96%	100.66%	100.78%	100.70%	100.53%	97.23%
Interest Burden Percent	335.04%	124.18%	-0.04%	95.12%	100.00%	107.09%	149.88%	119.58%	103.91%	118.99%	96.95%
Effective Tax Rate	0.00%	0.94%	9,300.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-53.10%	23.93%	1,033.24%	-41.57%	-13.68%	-18.54%	-5.19%	-12.87%	-20.13%	-19.32%	-34.21%
ROIC Less NNEP Spread (ROIC-NNEP)	43.34%	23.57%	1,228.67%	-38.70%	-44.13%	-1.94%	9.26%	24.62%	71.87%	16.17%	-18.38%
Return on Net Nonoperating Assets (RNNOA)	-30.51%	-19.67%	-1,033.32%	33.27%	17.32%	0.59%	-2.72%	-4.89%	-7.02%	-4.50%	7.83%
Return on Equity (ROE)	-83.61%	4.26%	-0.07%	-8.30%	3.64%	-17.95%	-7.91%	-17.76%	-27.16%	-23.83%	-26.38%
Cash Return on Invested Capital (CROIC)	-54.74%	-20.21%	1,044.29%	-66.28%	-194.56%	-8.46%	-5.37%	-14.64%	-18.26%	-19.33%	-17.14%
Operating Return on Assets (OROA)	-16.02%	2.93%	-1.52%	-6.98%	-9.76%	-13.55%	-3.20%	-8.02%	-13.25%	-12.78%	-21.32%
Return on Assets (ROA)	-53.72%	3.60%	-0.06%	-6.95%	3.01%	-13.20%	-4.83%	-9.67%	-13.86%	-15.29%	-20.09%
Return on Common Equity (ROCE)	51.18%	4.26%	-0.07%	-8.30%	3.64%	-17.95%	-7.91%	-17.76%	-27.16%	-23.83%	-26.38%
Return on Equity Simple (ROE_SIMPLE)	-40.26%	3.86%	-0.07%	-7.45%	2.29%	-18.03%	-8.45%	-18.72%	-29.16%	-19.09%	0.00%
Net Operating Profit after Tax (NOPAT)	-7.21	4.20	210	-9.10	-35	-86	-23	-58	-90	-86	-140
NOPAT Margin	-10.05%	3.67%	131.77%	-5.02%	-14.86%	-38.45%	-7.83%	-20.37%	-28.63%	-22.34%	-27.53%
Net Nonoperating Expense Percent (NNEP)	-96.44%	0.36%	-195.43%	-2.87%	30.45%	-16.61%	-14.45%	-37.49%	-92.01%	-35.49%	-15.83%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-7.10%	-12.10%	-11.17%	-21.29%
Cost of Revenue to Revenue	18.11%	14.14%	13.22%	13.83%	16.28%	40.77%	22.66%	24.39%	24.01%	24.52%	44.28%
SG&A Expenses to Revenue	61.31%	56.61%	60.44%	0.00%	74.53%	76.19%	60.97%	68.20%	71.20%	68.10%	65.38%
R&D to Revenue	34.93%	25.55%	27.77%	27.40%	30.40%	37.96%	37.75%	47.12%	45.68%	39.29%	29.68%
Operating Expenses to Revenue	96.25%	82.15%	88.21%	93.34%	104.94%	114.15%	88.52%	104.71%	116.88%	107.39%	95.06%
Earnings before Interest and Taxes (EBIT)	-11	3.68	-2.28	-13	-50	-124	-33	-82	-129	-122	-199
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-7.10	8.61	3.22	-7.03	-41	-58	3.95	-45	-95	-82	-160
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.33	9.81	6.42	11.64	2.99	5.07	3.55	3.93	8.40	10.78	9.88
Price to Tangible Book Value (P/TBV)	9.33	10.39	6.56	11.64	8.96	13.89	11.07	13.36	34.43	18.90	14.49
Price to Revenue (P/Rev)	11.05	10.06	5.57	11.16	8.49	15.04	7.09	7.37	12.33	21.56	12.78
Price to Earnings (P/E)	0.00	254.48	0.00	0.00	130.41	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.39%	0.00%	0.00%	0.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	51.97	49.22	40.00	76.56	3.75	7.15	4.39	4.46	8.72	17.93	16.61
Enterprise Value to Revenue (EV/Rev)	9.92	9.22	4.82	10.39	7.75	14.09	6.63	7.11	12.29	20.73	12.23
Enterprise Value to EBITDA (EV/EBITDA)	0.00	122.55	238.31	0.00	0.00	0.00	493.61	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	286.97	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	251.10	3.66	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	85.70	29.42	99.83	0.00	0.00	78.91	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	3.62	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.10	0.00	0.00	0.00	0.00	0.28	0.48	0.53	0.61	0.00	0.00
Long-Term Debt to Equity	0.01	0.00	0.00	0.00	0.00	0.28	0.48	0.53	0.61	0.00	0.00
Financial Leverage	-0.70	-0.83	-0.84	-0.86	-0.39	-0.30	-0.29	-0.20	-0.10	-0.28	-0.43
Leverage Ratio	1.56	1.18	1.18	1.19	1.21	1.36	1.64	1.84	1.96	1.56	1.31
Compound Leverage Factor	5.22	1.47	0.00	1.14	1.21	1.46	2.46	2.20	2.04	1.85	1.27
Debt to Total Capital	9.24%	0.00%	0.00%	0.00%	0.00%	22.11%	32.29%	34.68%	37.98%	0.00%	0.00%
Short-Term Debt to Total Capital	8.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.73%	0.00%	0.00%	0.00%	0.00%	22.11%	32.29%	34.68%	37.98%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	90.76%	100.00%	100.00%	100.00%	100.00%	77.89%	67.71%	65.32%	62.02%	100.00%	100.00%
Debt to EBITDA	-1.37	0.00	0.00	0.00	0.00	-3.28	70.89	-6.25	-2.97	0.00	0.00
Net Debt to EBITDA	11.49	0.00	0.00	0.00	0.00	3.72	-33.93	1.58	0.13	0.00	0.00
Long-Term Debt to EBITDA	-0.11	0.00	0.00	0.00	0.00	-3.28	70.89	-6.25	-2.97	0.00	0.00
Debt to NOPAT	-1.35	0.00	0.00	0.00	0.00	-2.19	-12.17	-4.88	-3.14	0.00	0.00
Net Debt to NOPAT	11.31	0.00	0.00	0.00	0.00	2.49	5.82	1.24	0.14	0.00	0.00
Long-Term Debt to NOPAT	-0.11	0.00	0.00	0.00	0.00	-2.19	-12.17	-4.88	-3.14	0.00	0.00
Altman Z-Score	20.94	40.24	19.43	36.80	8.38	5.89	2.88	2.45	4.26	23.24	15.27
Noncontrolling Interest Sharing Ratio	161.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.11	7.09	5.58	5.81	4.56	9.45	7.67	6.13	5.34	5.99	4.69
Quick Ratio	4.85	6.50	5.06	5.24	3.68	8.86	7.06	5.37	4.53	5.05	3.82
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-7.43	-3.55	212	-15	-501	-39	-24	-66	-82	-86	-70
Operating Cash Flow to CapEx	-249.49%	196.07%	413.42%	182.88%	-7.81%	-331.48%	51.71%	-109.86%	-285.25%	-979.21%	-60.93%
Free Cash Flow to Firm to Interest Expense	-5.91	0.00	0.00	-8.97	-171.84	-3.54	-1.35	-3.54	-5.76	-2.50	-15.10
Operating Cash Flow to Interest Expense	-1.74	0.00	0.00	11.66	-0.13	-2.06	1.40	-1.79	-4.07	-1.79	-3.19
Operating Cash Flow Less CapEx to Interest Expense	-2.44	0.00	0.00	5.28	-1.75	-2.69	-1.30	-3.42	-5.50	-1.97	-8.43
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.01	0.91	1.06	0.97	0.46	0.25	0.29	0.28	0.32	0.40	0.54
Accounts Receivable Turnover	11.08	10.47	10.29	10.26	8.30	6.04	8.46	8.14	8.29	7.62	5.99
Inventory Turnover	4.09	2.96	2.33	2.05	1.38	3.14	3.43	2.27	1.89	1.89	3.71
Fixed Asset Turnover	34.94	23.47	16.43	11.72	11.50	9.77	6.32	3.46	3.19	3.81	4.81
Accounts Payable Turnover	3.75	4.91	4.57	4.00	6.40	18.07	11.39	6.35	5.43	7.11	11.94
Days Sales Outstanding (DSO)	32.95	34.86	35.48	35.57	43.96	60.42	43.14	44.85	44.03	47.87	60.91
Days Inventory Outstanding (DIO)	89.30	123.43	156.63	178.34	264.19	116.18	106.33	161.00	192.77	193.44	98.48
Days Payable Outstanding (DPO)	97.29	74.38	79.86	91.20	57.07	20.20	32.06	57.51	67.24	51.37	30.58
Cash Conversion Cycle (CCC)	24.96	83.92	112.25	122.72	251.08	156.40	117.41	148.34	169.56	189.95	128.81
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	14	21	19	25	490	443	444	452	443	443	374
Invested Capital Turnover	5.28	6.52	7.84	8.28	0.92	0.48	0.66	0.63	0.70	0.87	1.24
Increase / (Decrease) in Invested Capital	0.22	7.75	-2.24	5.41	465	-47	0.78	7.92	-8.38	0.03	-70
Enterprise Value (EV)	711	1,055	768	1,883	1,837	3,169	1,950	2,012	3,866	7,948	6,206
Market Capitalization	793	1,151	887	2,024	2,011	3,384	2,084	2,084	3,879	8,267	6,485
Book Value per Share	$2.97	$3.50	$4.00	$4.83	$18.23	$14.84	$12.52	$11.11	$9.46	$13.91	$11.42
Tangible Book Value per Share	$2.65	$3.30	$3.91	$4.83	$6.08	$5.42	$4.01	$3.27	$2.31	$7.93	$7.79
Total Capital	105	117	138	174	673	857	867	811	745	767	656
Total Debt	9.70	0.00	0.00	0.00	0.00	189	280	281	283	0.00	0.00
Total Long-Term Debt	0.77	0.00	0.00	0.00	0.00	189	280	281	283	0.00	0.00
Net Debt	-82	-96	-119	-140	-174	-215	-134	-71	-13	-319	-279
Capital Expenditures (CapEx)	0.88	6.28	6.31	10	4.72	6.94	48	30	20	6.26	24
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1.51	7.24	3.66	5.71	31	15	8.72	19	26	56	95
Debt-free Net Working Capital (DFNWC)	93	103	123	146	205	420	423	372	321	375	374
Net Working Capital (NWC)	84	103	123	146	205	420	423	372	321	375	374
Net Nonoperating Expense (NNE)	31	-0.32	210	3.85	-51	34	27	42	45	61	48
Net Nonoperating Obligations (NNO)	-82	-96	-119	-149	-183	-225	-143	-78	-19	-324	-283
Total Depreciation and Amortization (D&A)	4.33	4.93	5.50	5.97	9.53	66	37	37	33	41	39
Debt-free, Cash-free Net Working Capital to Revenue	2.10%	6.33%	2.30%	3.15%	13.16%	6.83%	2.96%	6.65%	8.27%	14.54%	18.71%
Debt-free Net Working Capital to Revenue	129.30%	90.11%	77.03%	80.65%	86.58%	186.59%	143.79%	131.34%	102.14%	97.70%	73.65%
Net Working Capital to Revenue	116.85%	90.11%	77.03%	80.65%	86.58%	186.59%	143.79%	131.34%	102.14%	97.70%	73.65%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($2.13)	$0.14	$0.00	($0.37)	$0.41	($2.70)	$0.00	$0.00	($2.78)	($2.77)	($3.28)
Adjusted Weighted Average Basic Shares Outstanding	32.34M	32.93M	34.38M	35.32M	37.36M	44.50M	0.00	0.00	48.43M	52.76M	57.19M
Adjusted Diluted Earnings per Share	($2.13)	$0.12	$0.00	($0.37)	$0.37	($2.70)	$0.00	$0.00	($2.78)	($2.77)	($3.28)
Adjusted Weighted Average Diluted Shares Outstanding	32.34M	36.46M	34.38M	35.32M	41.15M	44.50M	0.00	0.00	48.43M	52.76M	57.19M
Adjusted Basic & Diluted Earnings per Share	($2.13)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	17.47M	34.23M	34.74M	36.16M	43.74M	45.79M	0.00	0.00	49.47M	56.57M	58.08M
Normalized Net Operating Profit after Tax (NOPAT)	-7.21	4.20	-1.60	-9.10	-35	-86	-44	-79	-90	-86	-140
Normalized NOPAT Margin	-10.05%	3.67%	-1.00%	-5.02%	-14.86%	-38.45%	-14.97%	-27.79%	-28.63%	-22.34%	-27.53%
Pre Tax Income Margin	-53.40%	3.99%	0.00%	-6.82%	-21.11%	-58.82%	-16.76%	-34.80%	-42.49%	-37.97%	-38.04%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-9.09	0.00	0.00	-8.04	-17.18	-11.09	-1.86	-4.45	-9.07	-3.56	-42.96
NOPAT to Interest Expense	-5.73	0.00	0.00	-5.63	-12.09	-7.76	-1.30	-3.12	-6.35	-2.49	-30.14
EBIT Less CapEx to Interest Expense	-9.79	0.00	0.00	-14.41	-18.80	-11.71	-4.56	-6.08	-10.50	-3.75	-48.20
NOPAT Less CapEx to Interest Expense	-6.43	0.00	0.00	-12.00	-13.71	-8.39	-4.00	-4.74	-7.78	-2.68	-35.38
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Glaukos' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	58,078,812.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	58,078,812.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.34
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	9.51%	15.64%	15.86%	19.02%	23.86%	28.09%	24.58%	29.71%	38.14%	35.66%	41.16%
EBITDA Growth	-63.61%	-41.83%	-30.94%	-4.92%	34.49%	59.19%	63.76%	38.86%	49.40%	-400.93%	31.67%
EBIT Growth	-37.52%	-14.49%	-21.52%	-2.60%	25.07%	25.78%	50.78%	34.23%	21.98%	-307.85%	-4.42%
NOPAT Growth	-29.61%	-14.49%	-18.41%	-3.09%	11.96%	25.78%	47.07%	24.30%	33.64%	-387.92%	3.98%
Net Income Growth	-10.40%	-16.91%	-17.94%	-54.04%	29.68%	8.70%	55.57%	61.11%	24.19%	-298.03%	-9.02%
EPS Growth	-8.62%	-13.64%	-13.89%	-47.06%	38.10%	25.33%	60.98%	66.00%	28.21%	-317.86%	-6.25%
Operating Cash Flow Growth	69.19%	-157.86%	-10.10%	-125.08%	-17.36%	104.75%	45.32%	137.99%	-5.26%	1,249.70%	32.37%
Free Cash Flow Firm Growth	-8.62%	40.84%	51.79%	60.74%	7.88%	-7.73%	-16.44%	-208.67%	-106.81%	-40.25%	382.90%
Invested Capital Growth	0.94%	-1.86%	-2.21%	-1.25%	1.03%	0.01%	1.19%	6.81%	7.41%	-15.73%	-15.23%
Revenue Q/Q Growth	-2.92%	5.53%	3.95%	11.76%	1.02%	9.13%	1.10%	16.37%	7.59%	7.18%	5.21%
EBITDA Q/Q Growth	3.63%	-40.64%	-9.03%	26.32%	39.82%	12.38%	6.72%	-24.31%	61.43%	-2,210.18%	93.83%
EBIT Q/Q Growth	3.73%	-29.96%	-3.81%	21.00%	29.70%	-28.73%	31.16%	-5.57%	16.60%	-712.61%	85.41%
NOPAT Q/Q Growth	3.66%	-37.89%	-1.15%	23.27%	17.73%	-16.24%	27.87%	-9.73%	27.87%	-754.68%	85.80%
Net Income Q/Q Growth	7.22%	-20.81%	-11.04%	-23.77%	57.64%	-56.85%	45.96%	-8.33%	17.43%	-723.47%	85.20%
EPS Q/Q Growth	7.35%	-19.05%	-9.33%	-21.95%	61.00%	-43.59%	42.86%	-6.25%	17.65%	-735.71%	85.47%
Operating Cash Flow Q/Q Growth	-0.09%	-30.57%	-217.58%	45.77%	47.81%	105.29%	-3,753.06%	137.68%	-244.58%	167.82%	-283.05%
Free Cash Flow Firm Q/Q Growth	38.46%	21.70%	8.51%	10.94%	-44.39%	8.43%	1.11%	-136.09%	3.26%	37.90%	299.47%
Invested Capital Q/Q Growth	-1.70%	-2.23%	2.68%	0.07%	0.57%	-3.23%	3.89%	5.64%	1.13%	-24.07%	4.51%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	76.28%	77.06%	76.34%	76.43%	76.64%	72.86%	77.20%	78.33%	78.41%	-1.06%	77.86%
EBITDA Margin	-27.70%	-36.92%	-37.31%	-24.60%	-14.65%	-11.76%	-10.85%	-11.59%	-4.16%	-89.60%	-5.25%
Operating Margin	-35.89%	-46.89%	-45.63%	-31.32%	-25.51%	-27.17%	-19.39%	-18.28%	-12.26%	-97.73%	-13.19%
EBIT Margin	-38.08%	-46.89%	-46.83%	-33.10%	-23.04%	-27.17%	-18.50%	-16.78%	-13.01%	-98.65%	-13.68%
Profit (Net Income) Margin	-39.01%	-44.65%	-47.70%	-52.82%	-22.15%	-31.83%	-17.01%	-15.84%	-12.15%	-93.39%	-13.14%
Tax Burden Percent	100.12%	100.17%	100.93%	100.66%	100.83%	99.66%	101.83%	101.28%	101.46%	95.59%	102.51%
Interest Burden Percent	102.32%	95.07%	100.92%	158.53%	95.34%	117.54%	90.31%	93.17%	92.07%	99.03%	93.66%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-16.90%	-23.09%	-22.65%	-16.35%	-14.12%	-16.45%	-11.99%	-11.76%	-8.48%	-84.99%	-11.96%
ROIC Less NNEP Spread (ROIC-NNEP)	0.62%	-2.97%	47.07%	8.57%	-10.59%	-8.56%	-9.53%	-10.22%	-6.53%	-73.20%	-9.95%
Return on Net Nonoperating Assets (RNNOA)	-0.08%	0.29%	-1.90%	-1.76%	2.17%	2.38%	2.35%	3.49%	2.22%	31.18%	4.05%
Return on Equity (ROE)	-16.98%	-22.80%	-24.55%	-18.11%	-11.95%	-14.07%	-9.64%	-8.27%	-6.27%	-53.81%	-7.91%
Cash Return on Invested Capital (CROIC)	-20.14%	-18.26%	-18.26%	-19.46%	-21.35%	-19.33%	-17.08%	-20.96%	-20.17%	-17.14%	-16.22%
Operating Return on Assets (OROA)	-11.81%	-15.19%	-16.04%	-12.06%	-8.85%	-10.88%	-7.88%	-7.62%	-6.35%	-53.59%	-8.12%
Return on Assets (ROA)	-12.10%	-14.47%	-16.34%	-19.24%	-8.51%	-12.75%	-7.25%	-7.19%	-5.93%	-50.73%	-7.79%
Return on Common Equity (ROCE)	-16.98%	-22.80%	-24.55%	-18.11%	-11.95%	-14.07%	-9.64%	-8.27%	-6.27%	-53.81%	-7.91%
Return on Equity Simple (ROE_SIMPLE)	-27.08%	0.00%	-31.25%	-23.84%	-22.37%	0.00%	-16.19%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-20	-27	-27	-21	-17	-20	-14	-16	-11	-98	-14
NOPAT Margin	-25.12%	-32.82%	-31.94%	-21.93%	-17.86%	-19.02%	-13.57%	-12.80%	-8.58%	-68.41%	-9.23%
Net Nonoperating Expense Percent (NNEP)	-17.52%	-20.11%	-69.72%	-24.92%	-3.53%	-7.90%	-2.46%	-1.55%	-1.96%	-11.79%	-2.02%
Return On Investment Capital (ROIC_SIMPLE)	-	-3.63%	-	-	-	-2.62%	-1.89%	-2.08%	-1.49%	-14.92%	-2.07%
Cost of Revenue to Revenue	23.72%	22.94%	23.66%	23.57%	23.36%	27.14%	22.80%	21.67%	21.59%	101.06%	22.14%
SG&A Expenses to Revenue	69.50%	76.53%	72.38%	69.17%	66.20%	65.41%	66.26%	67.17%	62.15%	66.17%	61.73%
R&D to Revenue	42.67%	47.43%	49.58%	38.59%	35.94%	34.62%	30.33%	29.44%	28.51%	30.50%	29.32%
Operating Expenses to Revenue	112.17%	123.96%	121.97%	107.76%	102.15%	100.03%	96.59%	96.61%	90.66%	96.67%	91.05%
Earnings before Interest and Taxes (EBIT)	-30	-39	-40	-32	-22	-29	-20	-21	-17	-141	-21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-22	-30	-32	-24	-14	-12	-12	-14	-5.55	-128	-7.91
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.66	8.40	10.21	8.96	10.71	10.78	7.29	7.71	6.08	9.88	9.32
Price to Tangible Book Value (P/TBV)	29.92	34.43	44.81	18.44	21.50	18.90	12.65	13.79	10.66	14.49	13.27
Price to Revenue (P/Rev)	12.06	12.33	14.10	17.44	19.87	21.56	13.76	13.63	9.95	12.78	11.34
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	8.03	8.72	10.13	12.64	15.18	17.93	11.44	11.57	8.95	16.61	15.31
Enterprise Value to Revenue (EV/Rev)	12.00	12.29	14.13	16.84	19.30	20.73	13.02	13.00	9.37	12.23	10.84
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.59	0.61	0.63	0.09	0.08	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.59	0.61	0.63	0.09	0.08	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.12	-0.10	-0.04	-0.21	-0.20	-0.28	-0.25	-0.34	-0.34	-0.43	-0.41
Leverage Ratio	1.91	1.96	1.99	1.63	1.64	1.56	1.56	1.33	1.34	1.31	1.30
Compound Leverage Factor	1.95	1.86	2.01	2.58	1.56	1.83	1.41	1.24	1.23	1.30	1.21
Debt to Total Capital	37.16%	37.98%	38.58%	7.85%	7.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	37.16%	37.98%	38.58%	7.85%	7.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	62.84%	62.02%	61.42%	92.15%	92.17%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	-3.30	-2.97	-2.90	-0.57	-0.60	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.22	0.13	-0.11	2.08	2.16	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	-3.30	-2.97	-2.90	-0.57	-0.60	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	-3.26	-3.14	-3.00	-0.60	-0.61	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.21	0.14	-0.11	2.16	2.22	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	-3.26	-3.14	-3.00	-0.60	-0.61	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	4.47	4.58	5.38	13.67	16.30	23.56	16.23	15.65	11.94	15.48	16.45
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.95	5.34	5.38	5.48	5.54	5.99	6.49	5.51	5.20	4.69	5.43
Quick Ratio	5.07	4.53	4.42	4.46	4.45	5.05	5.40	4.52	4.26	3.82	4.43
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-24	-19	-17	-15	-22	-20	-20	-47	-45	-28	56
Operating Cash Flow to CapEx	-243.10%	-253.09%	-3,498.97%	-854.77%	-661.10%	29.26%	-955.68%	39.24%	-617.13%	234.83%	-316.39%
Free Cash Flow to Firm to Interest Expense	-7.01	-4.68	-4.95	-0.71	-13.20	-2.56	-17.09	-40.76	-38.63	-24.59	49.97
Operating Cash Flow to Interest Expense	-2.40	-2.68	-9.82	-0.86	-5.76	0.06	-15.93	6.06	-8.59	5.97	-11.13
Operating Cash Flow Less CapEx to Interest Expense	-3.39	-3.73	-10.10	-0.96	-6.64	-0.16	-17.59	-9.39	-9.98	3.43	-14.65
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.31	0.32	0.34	0.36	0.38	0.40	0.43	0.45	0.49	0.54	0.59
Accounts Receivable Turnover	8.19	8.29	7.74	7.55	7.53	7.62	6.85	6.45	6.06	5.99	5.77
Inventory Turnover	2.00	1.89	1.72	1.67	1.69	1.89	1.79	1.69	1.76	3.71	3.84
Fixed Asset Turnover	3.19	3.19	3.26	3.37	3.57	3.81	4.07	4.08	4.48	4.81	5.27
Accounts Payable Turnover	6.76	5.43	6.28	7.97	7.83	7.11	6.86	8.12	7.01	11.94	13.36
Days Sales Outstanding (DSO)	44.54	44.03	47.18	48.32	48.49	47.87	53.27	56.57	60.25	60.91	63.30
Days Inventory Outstanding (DIO)	182.64	192.77	212.72	218.26	215.83	193.44	204.01	215.76	207.82	98.48	95.15
Days Payable Outstanding (DPO)	54.02	67.24	58.16	45.79	46.59	51.37	53.17	44.98	52.03	30.58	27.31
Cash Conversion Cycle (CCC)	173.16	169.56	201.75	220.79	217.73	189.95	204.11	227.36	216.03	128.81	131.13
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	453	443	455	455	458	443	461	486	492	374	390
Invested Capital Turnover	0.67	0.70	0.71	0.75	0.79	0.87	0.88	0.92	0.99	1.24	1.30
Increase / (Decrease) in Invested Capital	4.22	-8.38	-10	-5.78	4.69	0.03	5.40	31	34	-70	-70
Enterprise Value (EV)	3,642	3,866	4,612	5,756	6,953	7,948	5,269	5,627	4,403	6,206	5,976
Market Capitalization	3,661	3,879	4,601	5,961	7,159	8,267	5,567	5,902	4,677	6,485	6,253
Book Value per Share	$9.82	$9.46	$9.09	$13.21	$12.17	$13.91	$13.51	$13.39	$13.42	$11.42	$11.55
Tangible Book Value per Share	$2.51	$2.31	$2.07	$6.42	$6.06	$7.93	$7.78	$7.49	$7.65	$7.79	$8.11
Total Capital	760	745	734	722	725	767	764	765	770	656	671
Total Debt	282	283	283	57	57	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	282	283	283	57	57	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-18	-13	10	-205	-206	-319	-299	-275	-274	-279	-277
Capital Expenditures (CapEx)	3.36	4.21	0.97	2.15	1.45	1.73	1.94	18	1.64	2.91	3.96
Debt-free, Cash-free Net Working Capital (DFCFNWC)	32	26	44	52	63	56	77	82	94	95	120
Debt-free Net Working Capital (DFNWC)	332	321	316	314	326	375	376	357	367	374	396
Net Working Capital (NWC)	332	321	316	314	326	375	376	357	367	374	396
Net Nonoperating Expense (NNE)	11	9.74	13	30	4.15	14	3.67	3.77	4.78	36	5.88
Net Nonoperating Obligations (NNO)	-24	-19	4.40	-210	-210	-324	-303	-279	-278	-283	-281
Total Depreciation and Amortization (D&A)	8.10	8.21	8.15	8.14	8.10	16	8.16	6.44	12	13	13
Debt-free, Cash-free Net Working Capital to Revenue	10.38%	8.27%	13.33%	15.23%	17.52%	14.54%	19.11%	18.97%	19.91%	18.71%	21.70%
Debt-free Net Working Capital to Revenue	109.49%	102.14%	96.92%	91.80%	90.36%	97.70%	92.95%	82.44%	78.17%	73.65%	71.89%
Net Working Capital to Revenue	109.49%	102.14%	96.92%	91.80%	90.36%	97.70%	92.95%	82.44%	78.17%	73.65%	71.89%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.63)	($0.75)	($0.82)	($1.00)	($0.39)	($0.56)	($0.32)	($0.34)	($0.28)	($2.34)	($0.34)
Adjusted Weighted Average Basic Shares Outstanding	48.68M	48.43M	49.58M	50.72M	55.04M	52.76M	56.64M	57.21M	57.40M	57.19M	58.02M
Adjusted Diluted Earnings per Share	($0.63)	($0.75)	($0.82)	($1.00)	($0.39)	($0.56)	($0.32)	($0.34)	($0.28)	($2.34)	($0.34)
Adjusted Weighted Average Diluted Shares Outstanding	48.68M	48.43M	49.58M	50.72M	55.04M	52.76M	56.64M	57.21M	57.40M	57.19M	58.02M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	48.80M	49.47M	50.37M	54.95M	55.14M	56.57M	57.14M	57.35M	57.43M	58.08M	58.73M
Normalized Net Operating Profit after Tax (NOPAT)	-20	-27	-27	-21	-17	-20	-14	-16	-11	-98	-14
Normalized NOPAT Margin	-25.12%	-32.82%	-31.94%	-21.93%	-17.86%	-19.02%	-13.57%	-12.80%	-8.58%	-68.41%	-9.23%
Pre Tax Income Margin	-38.96%	-44.58%	-47.26%	-52.48%	-21.96%	-31.94%	-16.71%	-15.64%	-11.98%	-97.69%	-12.82%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-8.75	-9.69	-11.62	-1.48	-13.39	-3.65	-16.97	-18.10	-14.79	-123.20	-18.32
NOPAT to Interest Expense	-5.77	-6.78	-7.93	-0.98	-10.38	-2.55	-12.45	-13.80	-9.75	-85.43	-12.35
EBIT Less CapEx to Interest Expense	-9.73	-10.75	-11.90	-1.58	-14.26	-3.87	-18.63	-33.55	-16.18	-125.74	-21.83
NOPAT Less CapEx to Interest Expense	-6.76	-7.84	-8.21	-1.08	-11.25	-2.77	-14.11	-29.25	-11.14	-87.98	-15.87
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Glaukos (GKOS) has demonstrated a clear top-line uptrend over the four-year window provided, but remains unprofitable on a quarterly basis. The company has shown some improvement in cash flow generation in 2025, though large operating losses and a negative gross profit in late 2025 highlight ongoing profitability challenges. Below are the most notable trends drawn from the last four years of GKOS's quarterly statements.

Revenue growth: Total revenue rose through 2023–2025, and in 2025 quarters showed continued strength. Specifically, quarterly revenue progressed from about $106.7 million in Q1 2025 to $143.1 million in Q4 2025, with 2024 figures around $105.5 million in Q4 2024.
Operating cash flow turns positive in 2025: Net cash from continuing operating activities was positive in Q2 2025 (~$6.98 million) and again in Q4 2025 (~$6.84 million), signaling improved cash generation from core operations.
Financing activity supports liquidity in Q4 2025: Net cash from continuing financing activities was positive in Q4 2025 (about $2.43 million), contributing to the cash position despite other cash outflows.
Balanced, sizable balance sheet base: As of the 2025 period, Total Assets were approaching $1.0 billion (about $999 million by mid-2025), and Total Equity was around $769.5 million, indicating a relatively large equity cushion and scale for a specialty ophthalmic company. This structure provides a degree of financial resilience relative to quarterly earnings volatility.
Investing cash outflows remain sizable and steady: Net cash used in investing activities has been negative in multiple quarters in 2025 (e.g., Q4 2025 net cash from investing activities about −$15.9 million; Q2 2025 about −$20.8 million; Q1 2025 about −$36.9 million), reflecting ongoing capital investment and security allocations typical of a growth/transition phase.
Moderate debt burden and stable leverage: Long-term debt in the 2025 period sits in a modest range (approximately $56–57 million in mid-2025), contributing to a reasonable leverage profile given the asset base.
Healthy equity base with stable capitalization: Total equity figures around $770 million across the 2025 quarters suggest GKOS maintains a solid equity foundation relative to net losses, aiding capital flexibility.
Net income remains consistently negative: GKOS posted net income attributable to common shareholders of approximately −$133.66 million in Q4 2025, with other 2025 quarters also reporting losses (e.g., Q3 2025 around −$16.23 million; Q2 2025 around −$19.66 million; Q1 2025 around −$18.15 million). The company continues to incur substantial losses on a quarterly basis.
Gross profit negative in the latest quarter: In Q4 2025, Total Gross Profit was reported at about −$1.52 million, indicating the cost of revenue exceeded revenue in that quarter and resulting in a negative gross margin for that period.
Operating income deeply negative: GKOS delivered a negative Total Operating Income of roughly −$139.87 million in Q4 2025, reflecting outsized operating expenses relative to gross profit and revenue in that quarter.

05/07/26 03:58 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Glaukos' Financials

When does Glaukos' fiscal year end?

According to the most recent income statement we have on file, Glaukos' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has Glaukos' net income changed over the last 10 years?

Glaukos' net income appears to be on an upward trend, with a most recent value of -$187.69 million in 2025, rising from -$38.32 million in 2015. The previous period was -$146.37 million in 2024. See Glaukos' forecast for analyst expectations on whatâ€™s next for the company.

What is Glaukos' operating income?

Glaukos' total operating income in 2025 was -$199.60 million, based on the following breakdown:

Total Gross Profit: $282.76 million
Total Operating Expenses: $482.36 million

How has Glaukos' revenue changed over the last 10 years?

Over the last 10 years, Glaukos' total revenue changed from $71.70 million in 2015 to $507.44 million in 2025, a change of 607.7%.

How much debt does Glaukos have?

Glaukos' total liabilities were at $237.33 million at the end of 2025, a 14.2% increase from 2024, and a 1,005.4% increase since 2015.

How much cash does Glaukos have?

In the past 10 years, Glaukos' cash and equivalents has ranged from $6.49 million in 2016 to $169.63 million in 2024, and is currently $90.81 million as of their latest financial filing in 2025.

How has Glaukos' book value per share changed over the last 10 years?

Over the last 10 years, Glaukos' book value per share changed from 2.97 in 2015 to 11.42 in 2025, a change of 285.3%.

Related Companies

Financial statements for NYSE:GKOS last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Glaukos (GKOS) Financials

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Glaukos (GKOS) Financials

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